NYSE$CUBE
CubeSmart · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
CubeSmart's Q1 2023 performance was strong, marked by increased EPS, FFO, and same-store NOI growth.
CubeSmart reported strong first-quarter results, with EPS of $0.43 and FFO per share of $0.65. The company experienced a 9.1% increase in same-store NOI, driven by revenue growth and effective expense management. CubeSmart added 25 stores to its third-party management platform, expanding its managed store count to 676.
- Reported EPS attributable to common shareholders was $0.43.
- Reported FFO per share was $0.65.
- Increased same-store NOI by 9.1% year over year, driven by 6.9% revenue growth.
- Averaged same-store occupancy of 91.5% during the quarter and ended the quarter at 91.9%.
Headline financials
Revenue & EPS history
CubeSmart · Revenue · Quarterly
$257M
Forward guidance
The Company estimates that its fully diluted earnings per share for the year will be between $1.77 and $1.84, and that its fully diluted FFO per share, as adjusted, for 2023 will be between $2.64 and $2.71. Due to uncertainty related to the timing and terms of transactions, the impact of any potential future speculative investment activity is excluded from guidance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.5%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+1.0%
Avg return
30 days after
52%
33 / 64 earnings
Positive
+10.8%
Q1 2020
Best reaction
-6.9%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -0.5% | -1.2% | |
| Q4 2025 | -1.5% | -1.5% | -12.7% | |
| Q3 2025 | -5.3% | -3.4% | -4.7% | |
| Q1 2025 | +3.8% | +3.0% | +4.4% | |
| Q4 2024 | -2.9% | +1.7% | -2.7% | |
| Q3 2024 | -1.9% | +1.7% | +2.7% | |
| Q2 2024 | +2.4% | -0.1% | +8.9% | |
| Q1 2024 | -3.2% | -4.0% | -0.0% | |
| Q4 2023 | +2.2% | +4.4% | +1.8% | |
| Q3 2023 | +6.7% | +6.1% | +20.6% | |
| Q2 2023 | -4.9% | -3.4% | -2.9% | |
| Q1 2023 | +0.9% | -2.0% | -0.6% | |
| Q4 2022 | +1.1% | -0.2% | -2.7% | |
| Q3 2022 | +6.9% | +6.5% | +3.1% | |
| Q2 2022 | +4.4% | +7.0% | +1.0% | |
| Q1 2022 | -6.9% | -9.0% | -11.1% | |
| Q4 2021 | +3.3% | +1.3% | +4.8% | |
| Q3 2021 | +1.4% | -2.7% | -3.5% | |
| Q2 2021 | +1.2% | +2.6% | +7.5% | |
| Q1 2021 | +2.6% | +1.5% | +6.1% | |
| Q4 2020 | -2.8% | -7.1% | -1.1% | |
| Q3 2020 | -2.2% | -2.9% | -4.3% | |
| Q2 2020 | +3.5% | +4.5% | +9.5% | |
| Q1 2020 | +10.8% | +1.4% | +22.4% | |
| Q4 2019 | +2.7% | +1.9% | -32.5% | |
| Q3 2019 | -6.8% | -7.0% | -10.6% | |
| Q2 2019 | +0.0% | +0.8% | +5.4% | |
| Q1 2019 | +1.4% | +1.5% | +7.3% | |
| Q4 2018 | -0.9% | +2.2% | +8.4% | |
| Q3 2018 | -0.1% | +3.2% | +6.4% | |
| Q2 2018 | -2.4% | -0.2% | +0.8% | |
| Q1 2018 | +5.1% | +6.6% | +9.3% | |
| Q4 2017 | +0.3% | -0.6% | +7.7% | |
| Q3 2017 | +3.4% | +5.0% | +12.5% | |
| Q2 2017 | -2.3% | -0.4% | +0.1% | |
| Q1 2017 | -6.3% | -7.4% | -7.4% | |
| Q4 2016 | +6.8% | +4.0% | +2.4% | |
| Q3 2016 | -2.3% | -2.7% | -7.2% | |
| Q2 2016 | -0.8% | -2.3% | -9.5% | |
| Q1 2016 | -2.1% | — | — | |
| Q4 2015 | +1.2% | — | — | |
| Q3 2015 | -2.1% | — | — | |
| Q2 2015 | +1.7% | — | — | |
| Q1 2015 | +2.3% | — | — | |
| Q4 2014 | -1.8% | — | — | |
| Q3 2014 | +5.3% | — | — | |
| Q2 2014 | +2.9% | — | — | |
| Q1 2014 | -0.3% | — | — | |
| Q4 2013 | -0.5% | — | — | |
| Q3 2013 | -6.2% | — | — | |
| Q2 2013 | +4.2% | — | — | |
| Q1 2013 | -0.3% | — | — | |
| Q4 2012 | +1.4% | — | — | |
| Q3 2012 | -0.5% | — | — | |
| Q2 2012 | +0.9% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2011 | +0.1% | — | — | |
| Q2 2010 | +4.1% | — | — | |
| Q2 2011 | +4.1% | — | — | |
| Q1 2011 | -0.5% | — | — | |
| Q4 2010 | -3.0% | — | — | |
| Q3 2010 | +1.7% | — | — | |
| Q1 2010 | +4.6% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro